After Russian troops entered Ukraine, crude rose to $99.5. The price of gas has also jumped. Germany has suspended the Nord Stream 2 gas pipeline project.

An escalation of tensions and sharply rising oil prices. Vladimir Putin's recognition of the Ukrainian independence provinces and the dispatch of Russian troops there caused a surge in oil prices in proportions not seen since 2014. Brent, the European benchmark, gained up to 4.3%, before falling limit its gain to 1% around $96.30. Europe and the United States will undoubtedly impose sanctions against Russia in response.

The gas market also jumped on the announcement of the entry of Russian troops into Ukraine. The MWh delivered to the Netherlands took up 13% to 82 euros. If prices are high, they remain well below the record levels reached this winter when the MWh reached 180 euros in December.